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Richon Planning – ORP

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YOUR RETIREMENT

PLAN

PREPARED FOR: {Client Name:1} on 12/23/2024

THE PROCESS

Our process is designed to help our clients achieve simplicity and confidence during their retirement years. It’s focused around 5 key areas of your current financial life.

INCOME PLANNING

Once your income plan is established, we will create an investment plan for the remaining assets that you do not need to draw from month to month. This typically includes:

  • Assessing your Risk Tolerance
  • Adjusting your portfolio to reduce fees
  • Volatility Control
  • Evaluate ways to reduce risk while still working towards your goals
  • Longevity Protection

INVESTMENT PLANNING

Our goal is to help ensure your expenses can be paid month to month with reliability and predictability for the rest of your life. This typically includes:

  • Social Security Maximization
  • Income & Expense Analysis
  • Inflation Plan
  • Spousal Plan
  • Comprehensive Institutional Money Management

TAX PLANNING

Any comprehensive Retirement Plan will include a strategy for decreasing tax liabilities. This typically includes:

  • Assessing the taxable nature of your current holdings
  • Possible I.R.A. Planning
  • Strategizing ways to include tax-deferred or tax-free money in your plan
  • Strategize which tax category to draw income from first to potentially reduce tax burden
  • Discussing ways to leverage your qualified money to leave tax-free dollars to your beneficiaries

HEALTH CARE PLANNING

We will create a plan to help you address rising healthcare costs with a minimum of expense, including:

  • Looking at all aspects of Medicare, Parts A, B and D
  • Analyzing options for a Long-Term Care Plan

LEGACY PLANNING

It is important to ensure your hard-earned assets go to your beneficiaries in the most tax efficient
manner. By working collaboratively with a qualified Estate Planning Attorney, our goal will be
to help you:

  • Maximize your estate and income tax planning opportunities
  • Protect any assets in trust and ensure they are distributed to your beneficiaries probate free
  • Prevent your IRA and qualified accounts from becoming fully taxable to your beneficiaries upon your death

Overview

THOUGHTS FROM YOUR FINANCIAL PROFESSIONAL

I’ve enjoyed the opportunity to get to know you, understand your concerns for your money, and your goals for creating your own ideal retirement. You’ve done a great job working hard to accumulate a comfortable amount of wealth. As you read through the strategies and solutions in our report there may be some problem areas we recommend addressing. First and foremost, my team and I are going to address your concerns and goals. We look forward to a life-long relationship!

TAX STATUS OF DOLLARS

CURRENT ASSET ALLOCATION

Income Plan

MONTHLY INCOME GOAL

CURRENT MONTHLY INCOME

TOTAL MONTHLY INCOME

IN GOOD ORDER

Income Plan In good order

NEEDS ADDRESSED

Income Plan Needs Addressed

ACTION PLAN

Income Plan Acton Plan

Any references to safety, protection benefits or lifetime income generally refer to fixed insurance products, never securities or investment products. Insurance and annuity product guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. As financial professionals we are able to provide you with information but not guidance or advice related to Social Security benefits. Our firm is not affiliated with the US government or any governmental agency.

Investment Plan

TOTAL AVAILABLE ASSETS

CURRENT ASSET ALLOCATION

DETAILED ASSET ALLOCATION

TAX STATUS OF ASSETS

FEES

IN GOOD ORDER

Investment Plan In Good Order

NEEDS ADDRESSED

Investment Plan Needs Addressed

PLAN OF ACTION

Investment Plan Plan of Action
Based on the rule of 100, we suggest that a prudent person would not have an exceptionally high amount of money “at risk” based on their age. To determine the maximum amount of money you should have “at risk” in the markets, you should follow this formula: 100 – Your Age = Maximum %. So, if you’re 58, then your maximum allocation is 42% (100 – 58 = 42%).
The rule of 100 is a general rule of thumb to provide an estimate only; individual circumstances and objectives will vary.

Investing involves risk, including the loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Any references to safety, protection benefits or lifetime income generally refer to fixed insurance products, never securities or investment products. Insurance and annuity product guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company.

Tax Plan

IN GOOD ORDER

Tax Plan In Good Order

OBJECTIVES ADDRESSED

Tax Plan Objectives Addressed

ACTION PLAN

Tax Plan Action Plan
Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any purchasing decisions.

Healthcare Plan

IN GOOD ORDER

Healthcare Plan In Good Order

OBJECTIVES ADDRESSED

Healthcare Plan Objectives Addressed
According to the Employee Benefit Research Institute (EBRI), a 65-year-old couple with median prescription-drug expenses who retire this year will need $168,000 to enjoy a 50% chance of being able to pay all their remaining lifetime medical bills and $270,000 to have a 90% chance.1

ACTION PLAN

Healthcare Plan Action Plan

1Paul Fronstin, Jack VanDerhei.EBRI. May 28, 2020. “A Bit of Good News During the Pandemic: Savings Medicare Beneficiaries Need for Health Expenses Decrease in 2020.” https://www.ebri.org/content/a-bit-of-good-news-during-the-pandemic-savings-medicare-beneficiaries-need-for-health-expenses-decrease-in-2020. Accessed Sept. 21, 2020.

Legacy Plan

Use a qualified Estate Planning Attorney to provide pro-active advice. We have a network of referrals we highly recommend and can assist you in preparing for that meeting so make sure that you have all the information and questions you need.
Suggested objectives to discuss with estate planning attorney:
  • Discover the most useful means of owning property (transfer on death, etc.)
  • Distribute your estate in a manner that meets your legacy objectives
  • Provide enough money to meet known and expected settlement expenses at death
  • Preserve the assets you have worked hard to accumulate
  • Provide a satisfactory income for surviving spouse
  • Reduce estate and income taxes, administrative expenses, executor’s fees and attorney fees

IN GOOD ORDER

Legacy Plan In Good Order

NEEDS ADDRESSED

Legacy Plan Needs Addressed

ACTION PLAN

Legacy Plan Action Plan
Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any purchasing decisions.
By signing below I/we are acknowledging receipt and acceptance of this Retirement Roadmap plan custom- designed by SHP Financial to help me achieve my/our financial goals. I/We hold SHP Financial and its representatives harmless for recommended actions not carried out by me/us.
SHP FINANCIAL CLIENT Signature(s) & Date

 SHP FINANCIAL ADVISOR Signature & Date
We are an independent financial services firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives. This report utilizes and relies upon information shared by the client with respect to the client’s income, expenses and asset holdings. Information is believed to be reliable, but the accuracy of the information cannot be guaranteed.
©2024 Richon Planning